The Global Angiography Equipment Market Is Anticipated To Witness High Growth Owing To Increasing Prevalence Of Cardiovascular Diseases

Angiography equipment are medical devices used to perform angiography imaging procedures. They are used to visualize the inside of blood vessels and organs such as arteries and veins. Angiography equipment are used to diagnose and treat various cardiovascular diseases including coronary artery disease, heart attacks, congenital heart defects, and peripheral artery disease among others. The increasing prevalence of cardiovascular diseases is a major factor driving the demand for angiography equipment globally.

The Global Angiography Equipment Market is estimated to be valued at US$ 12.17 BN in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the Global Angiography Equipment are B. Braun Melsungen AG, Koninklijke Philips N.V., GE Healthcare, Cardinal Health, Siemens Healthcare Gmbh, Shimadzu Corporation, Medtronic plc, Boston Scientific Corporation, ANGIODYNAMICS, Abbot, Microport Scientific Corporation, Terumo Corporation, CURATIA MEDICAL INC., Cook Medical, Merit Medical Systems, Inc. and Applied Medical Resources Corp.

The angiography equipment market has high growth potential owing to increasing demand for minimally invasive surgeries and procedures. Key players are focusing on developing advanced angiography systems with new technological features like flat panel detectors and 3D imaging capabilities to gain competitive advantage.

Globally, the angiography equipment market is witnessing expansion in emerging economies of Asia Pacific and Latin America due to improving healthcare infrastructure and increasing healthcare spending. Key players are focusing their efforts on these emerging markets to leverage growth opportunities.

Market drivers

Rising geriatric population: The elderly are more prone to developing cardiovascular diseases due to age-related wear and tear of blood vessels and organs. This is a major factor driving the demand for angiography procedures and equipment.

Increasing prevalence of obesity and diabetes: Growing obesity and diabetes pandemic has resulted in sharp rise in risk of coronary artery disease and other CVDs globally. This is expected to propel the angiography equipment market.

Market restraints
High costs associated with angiography procedures and equipment: Angiography systems are highly sophisticated and expensive in nature. This adversely impacts their adoption rate in price sensitive developing markets.

Exposure to radiation: Angiography procedures involve exposure to x-ray radiation which may increase long term cancer risk with frequent usage. This discourages repeated diagnostic angiograms and acts as a restraining factor.

Segment Analysis
The Global Angiography Equipment Market Growth  can be segmented on the basis of product type, technology, application, end-user, and geography. By product type, the angiography systems segment dominates the market as angiography systems are specifically and solely used for angiography procedures worldwide. By technology, the MRI segment is expected to grow at a high CAGR during the forecast period. MRI angiography offers advantages over conventional angiography as it does not require exposure to radiation or injection of iodinated contrast material. By application, the coronary angiography segment holds the largest share as it is the most commonly performed angiography procedure globally. By end-user, the hospitals segment accounts for the maximum share of angiography procedure volumes worldwide.

Global Analysis
Regionally, North America holds the major share of the global angiography equipment market and is expected to continue dominating during the forecast period. Factors such as advanced healthcare infrastructure, favorable reimbursement policies, and presence of key market players in the region drive the large share of North America. However, Asia Pacific is expected to grow at the highest CAGR during the forecast period. Rising medical tourism industry in Asia Pacific coupled with improving healthcare infrastructure and increasing healthcare expenditure in the region support the rapid growth of the angiography equipment market in Asia Pacific.

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